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On February 1, 2017, Pat Weaver Inc. (PWI) issued 9%, $1,900,000 bonds for $2,200,000. PWI retired all of these bonds on January 1, 2018, at

On February 1, 2017, Pat Weaver Inc. (PWI) issued 9%, $1,900,000 bonds for $2,200,000. PWI retired all of these bonds on January 1, 2018, at 103. Unamortized bond premium on that date was $195,700. How much gain or loss should be recognized on this bond retirement? Multiple Choice $171,000 gain. $138,700 gain. $0 gain. $198,000 gain

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